GRASIM Elliott Wave technical analysis
Function: Larger Degree trend Higher (Intermediate degree, orange. Wave (5)).
Mode: Motive.
Structure: Impulse.
Position: Minute Wave ((iii)) Navy.
Details: Minute Wave ((iii)) Navy of Minor Wave 5 Grey progressing higher within Intermediate Wave (5) Orange against 2490. Alternatively, Wave (5) Orange is complete above 2900.
Invalidation point: 2490.
Grasim Industries daily chart technical analysis and potential Elliott Wave counts
Grasim Industries daily chart is indicating a progressive rally, which is unfolding Minute Wave ((iii)) Navy within Minor Wave 5 Grey of Intermediate Wave (5) Orange against 2490 support. Alternatively, Wave (5) Orange already terminated around 2900.
Grasim Industries has produced a religious uptrend since June 2022 lows around 1270 mark, Intermediate Wave (4) termination. The sub waves are potentially unfolding into five waves marked as Minor Waves 1 through 5 (still unfolding) Grey here.
If the above holds well, the stock could be well underway to push above the 3000 mark and terminate Intermediate Wave (5) Orange. Ideally, prices should stay above 2450, Minute Wave ((ii)) termination, to keep the bullish structure intact.
GRASIM Elliott Wave technical analysis
Function: Larger Degree trend Higher (Intermediate degree, orange. Wave (5)).
Mode: Motive.
Structure: Impulse.
Position: Minute Wave ((iii)) Navy.
Details: Minute Wave ((iii)) Navy of Minor Wave 5 Grey progressing higher within Intermediate Wave (5) Orange against 2490. Furthermore, Minuette Wave (ii) Orange within Minute Wave ((iii)) Navy looks complete around 2700 mark. If correct, Minuette Wave (iii) should be underway. Alternatively, Wave (5) Orange is complete above 2900.
Invalidation point: 2490.
Grasim Industries four-hour chart technical analysis and potential Elliott Wave counts
Grasim Industries 4H chart is highlighting the Minuette waves within Minute Waves ((i)) and ((ii)) Navy. The former was an impulse followed by an expanded flat 3-3-5 Minute Wave ((ii)) terminating around 2490 mark. Minute Wave ((iii)) is now progressing higher against 2490.
Conclusion
Grasim Industries is progressing higher within Minute Wave ((iii)) of Minor Wave 5 of Intermediate Wave (5) Orange against 2490.
Grasim Industries Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
EUR/USD turns positive above 1.0900 as focus shifts to US CPI
EUR/USD erases losses to turn positive above 1.0900 in the European session on Wednesday. The dust settles over the US-EU tariff war as traders shift thier focus toward the key US CPI inflation data due later at 12:30 GMT.
GBP/USD holds losses near 1.2950, US CPI awaited
GBP/USD remans offered near 1.2950 in Wednesday's European session, eroding part of the previous day's strong move up. Global tariff war keep traders on the edge, lifting the havem demand for the US Dollar at the expense of the risk-sensitive Pound Sterling. US CPI data awaited.
Gold price extends the range play as traders await US CPI for Fed rate-cut cues
Gold price struggles to build on the overnight move up, though the downside seems limited. A modest USD bounce from a multi-month low and a positive risk tone cap the precious metal. Trade war fears and Fed rate cut bets support the XAU/USD pair ahead of the US CPI report.
US CPI inflation data set to show inflation cooled slightly in February, keeping Fed in focus
The United States Bureau of Labor Statistics is set to publish the high-impact Consumer Price Index inflation report for February at 12:30 GMT. The CPI figures could notably impact the US Dollar and the Federal Reserve’s cautious monetary policy stance.
Gold price extends the range play as traders await US CPI for Fed rate-cut cues
Gold price struggles to build on the overnight move up, though the downside seems limited. A modest USD bounce from a multi-month low and a positive risk tone cap the precious metal. Trade war fears and Fed rate cut bets support the XAU/USD pair ahead of the US CPI report.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.